Great Card If
- You frequently purchase items through Rakuten
- You choose Amex Membership Rewards as your Rakuten earning preference
Don’t Get If
- You rarely shop through Rakuten
- The $7,000 yearly limit to earn 4% back on Rakuten purchases isn’t high enough for you
Rakuten American Express Card — Is It Worth It?
The Rakuten American Express card can be a great option for those who use Rakuten as a cash-back portal for all of their online shopping. It earns 4% back on up to $7,000 in purchases per calendar year, in addition to the cash-back you’ll earn from the merchant offer.
Also, remember that you can also opt to earn Amex Membership Rewards points with your Rakuten account instead of cash-back. In this case, you could earn 4 Amex Membership Rewards points per $1 spent on your Rakuten purchases. Depending on your redemption strategy, this could be a much better value for you, as we value Amex points at 2.2 cents per point.
The information regarding The Rakuten American Express® Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
Rakuten American Express Card Top Benefits and Perks
Here is a look at all of the best benefits you’ll receive with the Rakuten American Express card:
- Access to Amex Offers: Upon enrollment, earn extra rewards or statement credits when shopping through select merchants available via Amex Offers after adding the offer to your card.
- Retail protection: Eligible items purchased with your card receive coverage if they are damaged or stolen within 90 days of purchase.
- Extended warranty protection: Coverage that doubles the original manufacturer’s warranty up to 1 year.
- No annual fee or foreign transaction fees: Keep your card open each year, and continue to use it abroad to earn more rewards, without having to pay an annual fee or foreign transaction fees.
Best Ways To Earn and Redeem Your Rewards
Earning rewards with the Rakuten American Express card is easy. Not only do you earn 4% back on Rakuten purchases (on up to $7,000 in spend each year) in addition to the cash-back rewards you were already going to earn with the merchant, but you also receive an extra 5% back on Rakuten Dining (in addition to the 5% you already earn). There’s also 2% back on groceries and at restaurants, and 1% back on all other purchases.
Like other purchases through Rakuten, the cash-back you earn from the Rakuten American Express card pays out every 3 months, so long as you’ve earned at least $5.01 in rewards.
You can opt to earn Amex Membership Rewards points in lieu of cash-back rewards, which can offer significantly more value if you travel often.
Alternative Cards to the Rakuten American Express Card
If you’re looking for a card that can help you boost your rewards for online purchases, the Amex Blue Cash Everyday card is an excellent option.
With it, you’ll earn 3% back on online retail purchases on up to $6,000 in purchases each year, then 1% back after. Not only does this include purchases you make through Rakuten, but it also applies to most other merchants you might frequently shop with online, like Amazon.
Plus, it also earns 3% back on purchases at U.S. supermarkets on up to $6,000 in purchases each year, 3% back on purchases at U.S. gas stations on up to $6,000 in purchases each year (then 1% back after), and 1% back on all other purchases.
Even though the card has a $0 annual fee (rates & fees), you’ll receive up to a $7 monthly statement credit after using your enrolled card for a subscription purchase, including a bundle subscription purchase, at Disneyplus.com, Hulu.com, or Plus.espn.com U.S. websites (subject to auto-renewal), giving you up to $84 in annual value.
The Bank of America Customized Cash Rewards card is another option that should be considered for those who want to optimize their online purchases.
This $0-annual-fee card earns 3% back in the category of your choice from 1 of gas, online shopping, dining, travel, drug stores, or home improvement and furnishings on the first $2,500 in purchases each quarter in the chosen category. You can also switch your chosen category month to month.
Plus, those who have status in the Bank of America Preferred Rewards program can boost their rewards rate by 25% to 75%, allowing you to earn 3.75% or even up to 5.25% back on chosen categories each month, which includes online shopping.
The card also earns 2% back at grocery stores and wholesale clubs (also subject to the shared $2,500 quarterly limit with the 3% categories) and 1% back on all other purchases, both of which can be boosted depending on your status level.
